Photo credit: Alibaba Group
High-end e-commerce hub Tmall Luxury Pavilion is home to more than 200 luxury brands as well as over 300 million consumers.
These figures did not drop during the pandemic; in fact, more consumers than ever are investing in upmarket goods and soon, they will have even more selection.
In honor of this year’s 6.18 Mid-Year Shopping Festival, brands including LVMH, Kering, Chanel, Hermès and Richemont are launching thousands of new products to attract Chinese luxury lovers.
What is driving growth in this sector?
In this video, Janet Wang, head of Tmall Luxury Division, shares insights into two main Chinese luxury consumer profiles and how brands are working to build customer loyalty with them through a variety of innovations on Tmall Luxury Pavilion.
Key Quotes
“The general characteristics of Chinese luxury consumers are mobile-only, online-first. And they’re extremely digital-savvy. They make sure they’re always connected to the current events and always looking for the latest trends. But then, the Chinese luxury consumers are not homogeneous. We are able to define them in the two major groups.”
“The first group is Generation Y… They are the heavy luxury shoppers that come to our platforms, on average, every one out four days, on averagely spending nearly 30 thousand RMB a year.”
“Coming right behind the Gen Y is the Gen Z… They’re enthusiastic about learning the luxury products and brands and have grown significantly. This group of customers has become the most rapid gross customer group on Tmall Luxury Pavilion.”
